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BNP BUYS CALYON’S A-P UNIT
BNP Paribas is acquiring Calyon’s cash equity execution business in Asia, which includes 30 personnel at its Tokyo and Hong Kong offices, officials say. The acquisition is subject to approval from regulators and is due to close next month. Denis Frances, global head of BNPP equities and derivatives, flow and liquidity unit, says the deal is complementary and will not result in a reduction in headcount, as there is little overlap between the two businesses. "We’ll have
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